West Family Investments Inc. Purchases 518 Shares of McKesson Corporation $MCK

West Family Investments Inc. raised its position in McKesson Corporation (NYSE:MCK) by 36.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,945 shares of the company’s stock after purchasing an additional 518 shares during the period. West Family Investments Inc.’s holdings in McKesson were worth $1,425,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Solstein Capital LLC raised its position in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Bank of Jackson Hole Trust increased its holdings in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares in the last quarter. GFG Capital LLC acquired a new position in McKesson in the second quarter valued at approximately $30,000. Saudi Central Bank bought a new position in shares of McKesson during the 1st quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC bought a new position in shares of McKesson during the 1st quarter worth approximately $39,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. UBS Group boosted their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. TD Cowen lifted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Finally, Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Trading Down 0.5%

Shares of McKesson stock opened at $879.00 on Friday. The company has a market capitalization of $108.49 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The stock has a fifty day simple moving average of $807.11 and a 200 day simple moving average of $740.86. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.07 EPS. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.